Pope Resources Quarterly Distribution

  
    
  
  
    
      Pope Resources (Nasdaq:POPEZ) announced today a quarterly distribution 
      of 28 cents per unit, effective for unitholders of record on December 1, 
      2006 and payable on December 15, 2006.
    
    
      About Pope Resources
    
    
      Pope Resources, a publicly traded limited partnership, and its 
      subsidiaries Olympic Resource Management and Olympic Property Group, own 
      or manage over 400,000 acres of timberland and development property in 
      Washington and Oregon. In addition, we provide forestry consulting and 
      timberland management services to third-party owners and managers of 
      timberland in Washington, Oregon, and California. The company and its 
      predecessor companies have owned and managed timberlands and development 
      properties for more than 150 years. Additional information on the 
      company can be found at www.orm.com. 
      The contents of our website are not incorporated into this release or 
      into our filings with the Securities and Exchange Commission.
    
  
Pope Resources (Nasdaq:POPEZ) announced today a quarterly
distribution of 28 cents per unit, effective for unitholders of record
on December 1, 2006 and payable on December 15, 2006.

   About Pope Resources

   Pope Resources, a publicly traded limited partnership, and its
subsidiaries Olympic Resource Management and Olympic Property Group,
own or manage over 400,000 acres of timberland and development
property in Washington and Oregon. In addition, we provide forestry
consulting and timberland management services to third-party owners
and managers of timberland in Washington, Oregon, and California. The
company and its predecessor companies have owned and managed
timberlands and development properties for more than 150 years.
Additional information on the company can be found at www.orm.com. The
contents of our website are not incorporated into this release or into
our filings with the Securities and Exchange Commission.